# BMT Marine & Offshore Surveys Limited (04147467)

> Why UK company 04147467 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04147467

- **Status:** Administration ended
- **Administration began:** 2011-04-26
- **Administrators' firm:** Deloitte
- **Formerly:** BMT Salvage Limited; Weldpage Limited
- **Incorporated:** 2001-01-25
- **Location:** London
- **Industry:** 6603

## Why it went into administration

- Pension deficit

## From the administrators' statement

Whilst operating profits had been slowly improving, the Company faced two key financial challenges as follows

It has initiated two significant pension deficits in respect of accumulated liabilities to the UK and US defined benefit schemes which related to the former Salvage Association pensionable employees

Together, these liabilities amounted to over £7 5m and whilst a tentative agreement had been reached with the UK scheme Trustees to repay the deficit at £100,000 per annum, this was contingent on a Group guarantee The US deficit could only be addressed if the UK position could be resolved and trading materially improved

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04147467/filing-history/MzAzOTQ3NzM5NWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04147467

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.